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Press release 21 December 2021 Aker BP and Lundin Energy combine their oil and gas businesses Aker BP ASA ( Oslo Børs : AKRBP ) and Lundin Energy AB ( Nasdaq Stockholm : LUNE ) today jointly announced that Aker BP ASA ( “ Aker BP ” ) and Lundin Energy AB ( “ Lundin Energy " ) have entered into a transaction agreement pursuant to which Aker BP shall combine its business with Kommstart 157 AB ( publ ) , reg.no. 559355-1764 ( “ Target ” ) , a newly established Swedish public limited liability company currently wholly - owned by Lundin Energy , which at the time of completion of the Merger ( as defined below ) shall consist of inter alia all of Lundin Energy's oil and gas related assets . The combination shall be made through a statutory merger ( the " Merger " ) , whereby the merged company will become the second largest oil and gas producer on the Norwegian Continental Shelf ( the “ Combined Company " ) . The Merger will be implemented by Aker BP absorbing the Target . On 21 December 2021 , Aker BP and Lundin Energy have entered into a transaction agreement ( the " Transaction Agreement ” ) , pursuant to which Aker BP and Lundin Energy have agreed to combine parts of Lundin Energy's business operations with Aker BP through the Merger . Lundin Energy's shares in Target will be distributed to the shareholders of Lundin Energy by way of a so - called Lex Asea dividend , where each share in Lundin Energy will entitle to one share in Target , upon which Target will merge with Aker BP and Target shareholders will receive a combination of shares in Aker BP , in the form of Swedish Depositary Receipts , and cash as merger consideration . The transaction in short • Target's shareholders , who will be identical with the shareholders of Lundin Energy immediately after the Lex Asea dividend , will receive as merger consideration a cash amount in SEK corresponding to USD 7.76 at the average exchange rate established by the WM / Refinitiv Spot ( Bloomberg code : WMCO ) across the ten business days preceding the third business day prior to implementation of the Merger plus 0.950985 shares in Aker BP , in the form of Swedish Depository Receipts , for each share in Target outstanding as at completion of the Merger . Hence , Target shareholders will in total receive approximately 43 percent economic ownership in the Combined Company , corresponding to in total approximately 272 million shares in Aker BP and a total cash consideration of USD 2.22 billion to be 1